Elme Communities (NYSE:ELME) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Elme Communities (NYSE:ELME - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.01, Zacks reports. Elme Communities had a negative net margin of 5.42% and a negative return on equity of 1.18%. The business had revenue of $61.49 million for the quarter, compared to analysts' expectations of $61.31 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The business's quarterly revenue was up 3.3% compared to the same quarter last year. Elme Communities updated its FY 2025 guidance to 0.910-0.970 EPS.

Elme Communities Stock Up 1.8 %

Shares of ELME traded up $0.28 during trading hours on Friday, reaching $16.19. The stock had a trading volume of 1,024,558 shares, compared to its average volume of 579,239. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -115.64 and a beta of 0.84. The firm has a 50-day simple moving average of $16.36 and a 200 day simple moving average of $16.12. The company has a current ratio of 0.58, a quick ratio of 0.55 and a debt-to-equity ratio of 0.65. Elme Communities has a 12 month low of $13.95 and a 12 month high of $18.49.

Elme Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date is Tuesday, June 17th. Elme Communities's payout ratio is -514.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Elme Communities from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. Truist Financial upgraded shares of Elme Communities from a "hold" rating to a "buy" rating in a research report on Friday, January 17th.

Elme Communities Company Profile

Elme Communities is committed to elevating what home can be for middle-income renters by providing a higher level of quality, service, and experience. The Company is a multifamily real estate investment trust that owns and operates approximately 9,400 apartment homes in the Washington, DC metro and the Atlanta metro regions, and owns approximately 300,000 square feet of commercial space.

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